Mobix Labs, Inc. (NASDAQ:MOBX) Sees Significant Decrease in Short Interest

Key Points

• Short interest in Mobix Labs dropped sharply — down 28.9% to 3,900,417 shares as of Feb. 27, representing about 5.6% of shares shorted and a short-interest ratio of 1.5 days.
• CFO Keyvan Samini sold 211,672 shares on Jan. 5 at an average of $0.32, trimming his stake by 7.34%; company insiders collectively own 32.03% of the stock.
• Shares traded down 13.7% to $0.63; the company reported a loss (EPS -$0.16), has negative margins and ROE, a market cap near $65M, and a consensus analyst rating of Sell.

Mobix Labs, Inc. (NASDAQ:MOBX - Get Free Report) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 3,900,417 shares, a drop of 28.9% from the February 12th total of 5,483,051 shares. Based on an average daily volume of 2,557,840 shares, the short-interest ratio is presently 1.5 days. Currently, 5.6% of the company's stock are short sold. Currently, 5.6% of the company's stock are short sold. Based on an average daily volume of 2,557,840 shares, the short-interest ratio is presently 1.5 days.

Insider Activity

In other news, CFO Keyvan Samini sold 211,672 shares of the business's stock in a transaction on Monday, January 5th. The shares were sold at an average price of $0.32, for a total value of $67,735.04. Following the sale, the chief financial officer owned 2,671,661 shares of the company's stock, valued at $854,931.52. The trade was a 7.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 32.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MOBX. XTX Topco Ltd increased its stake in shares of Mobix Labs by 47.4% during the 2nd quarter. XTX Topco Ltd now owns 38,671 shares of the company's stock worth $30,000 after purchasing an additional 12,443 shares during the last quarter. Vanguard Capital Wealth Advisors lifted its stake in Mobix Labs by 4.1% in the 4th quarter. Vanguard Capital Wealth Advisors now owns 1,383,416 shares of the company's stock valued at $370,000 after purchasing an additional 54,700 shares during the last quarter. Geode Capital Management LLC lifted its stake in Mobix Labs by 17.3% in the 4th quarter. Geode Capital Management LLC now owns 426,198 shares of the company's stock valued at $114,000 after purchasing an additional 62,715 shares during the last quarter. Virtu Financial LLC grew its holdings in Mobix Labs by 247.8% during the fourth quarter. Virtu Financial LLC now owns 94,011 shares of the company's stock worth $25,000 after purchasing an additional 66,982 shares during the period. Finally, Mariner LLC increased its position in Mobix Labs by 103.5% during the fourth quarter. Mariner LLC now owns 135,453 shares of the company's stock worth $36,000 after buying an additional 68,879 shares during the last quarter. Institutional investors own 8.56% of the company's stock.

Mobix Labs Stock Down 13.7%

Shares of NASDAQ:MOBX traded down $0.10 during trading on Friday, hitting $0.63. 22,367,161 shares of the company were exchanged, compared to its average volume of 68,795,440. Mobix Labs has a fifty-two week low of $0.13 and a fifty-two week high of $1.44. The stock has a market cap of $64.96 million, a price-to-earnings ratio of -0.93 and a beta of -0.07. The company has a current ratio of 0.11, a quick ratio of 0.07 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $0.32 and a two-hundred day moving average price of $0.58.

Mobix Labs (NASDAQ:MOBX - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.16) EPS for the quarter. The company had revenue of $1.88 million during the quarter. Mobix Labs had a negative net margin of 289.21% and a negative return on equity of 2,857.36%.

Analysts Set New Price Targets

Several research analysts recently commented on MOBX shares. Weiss Ratings restated a "sell (e+)" rating on shares of Mobix Labs in a report on Thursday, January 22nd. Wall Street Zen raised shares of Mobix Labs to a "sell" rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

Mobix Labs Company Profile

Mobix Labs, Inc NASDAQ: MOBX is a technology company specializing in device intelligence software and services for the mobile device lifecycle. The company's core platform enables real-time testing, authentication and diagnostic verification of smartphones and other connected devices. By combining automated testing tools with data analytics, Mobix Labs helps carriers, retailers, original equipment manufacturers (OEMs) and repair centers streamline operations and reduce return rates, fraud and waste.

Mobix Labs offers a suite of products designed to support the full spectrum of device management.

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